EUR/USD Continues to Range

The pair is trading within a 120 pip range between 1.4000 and 1.3800 over the last couple trading days. This range has held in early trading. 1.3880 is initial support. A move below 1.3860 would confirm that break.

The overall target for that move is 1.3760, with interim support at 1.3820 and 1.3800. If prices move beyond 1.3760, there is support at 1.3740.

Resistance is likely in the 1.3740-1.3760 area. A move beyond indicates a test of the range highs near 1.4000. A break out today will encounter resistance by 1.4040 or 1.4080.

Forex Analysis by Dr. Sivaraman at ForexPros. com. For more details about Forex Trading and Tips for decent earnings through Forex Trading, Please check forexpros. com